EdgeIn Unveils Web3 Data Solution With A Shared Revenue Model
Web3 was the most popular keyword of 2022, but I am confident that it reflects the destiny of our cherished World Wide Web (WWW). Web3, also referred to as Web 3.0, is the next generation of the World Wide Web, distinguished by decentralization (as opposed to the existing centralized web), blockchain technology, and non-fungible currency (NFTs).
NFTs and cryptocurrencies both use blockchain technology. Due to their unique features, NFTs and cryptocurrencies cannot be substituted or exchanged and cannot be fabricated or manipulated. Besides new coins and immutable digital art (NFTs) powered by blockchain technology, Web3 technologies will open infinite opportunities.
With the advent of Web3, mostly due to the NFT-mania, and the emergence of billions of new cryptocurrencies in addition to Bitcoin and Ethereum, many investors and businesspeople are eager to join on the bandwagon. As the firm puts it, EdgeIn is a “free, low-cost alternative to Crunchbase and Pitchbook.”
EdgeIn now offers free access to its information, which includes a lengthy collection of 25,000 business profiles. However, for $14.99 a month, customers can receive real-time alerts on Web3 firms, individuals, investment agreements, and events that interest them. The cherry on top is that EdgeIn will distribute its money with its society in order to meet its fundamental purpose of providing “truly decentralized data that fosters innovation.” EdgeIn’s website has further information about the premium version.
The Web3 investment study industry is presently valued at $610 million and is projected to hit $11 billion by 2030, as per the business. During my discussion with Ashley Brown, Co-founder and Chief Operating Officer of EdgeIn, she informed me that the prevailing Web3 environment research instruments utilized by investors are complicated, predicated on legacy information, and frequently create wealth through the analysis and resale of users’ public data.
EdgeIn intends to assist users to recover their data and profit from their contributions to the ecosystem, in accordance with Web3’s vision to establish a fair, decentralized internet in which people possess their own information and identities.
Redg Snodgrass, founder and CEO of EdgeIn, stated, “Our mission is to eliminate all forms of data obscurity in the Web3 business and deliver the data integrity this industry requires.” “The time has come to seek more openness in Web3 and to replace the centralized incumbents accountable for stifling innovation and corporate development by rendering it more difficult to locate crucial data. The current data approach fails everyone, including builders, LPs, and our own households.”
Ashley Brown, co-founder and chief operating officer of EdgeIn, said, “The dual-sided design is cooperative and motivated, allowing anybody in the community to contribute information.”
As per the EdgeIn founders, since the console’s launch in October, customers have contributed over 15,000 new firms and initiatives, and the firm’s analysts complete new queries with in an hour. Nevertheless, it takes 24 hours for the EdgeIn community analyst team to assess and release bigger dataset submissions. This astounding rate of adding user-submitted information is far quicker than the response times provided by Crunchbase.
Presently, the site indexes more than 50,000 Web3 firms and initiatives, has more than 4,000 active investor pages, and more than 20,000 builders. Utilizing tags, filtering, and the search function, I was able to locate a vast amount of information in record time on EdgeIn. The client interface is intuitive and quick. In addition to firms and agreements, the website enables users to monitor many other areas of the Web3 environment, including job and market developments (Velocity card) or current trends.
The business claims that its team “has created the biggest verified on/off-chain dataset in Web3, indexing more than 90 percent of the market in only three months.” Without the assistance of various data and event partners, including as AmberData, Harmonic.ai, DefyTrends, Coingecko, LunarCrush, DefiLlama, and DealRoom, such a successful implementation would not have been possible.
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.